latest news releases from the newsroom
New Board Appointed for Valmet Automotive
HELSINKI, Finland, Dec. 14, 2001 (PRIMEZONE) -- The composition of the Board of Directors of Valmet Automotive, part of Metso Corporation (NYSE:MX), has been changed. Metso's Board of Directors has appointed the following to the Board of Valmet Automotive: Metso's President & CEO Tor Bergman (Chairman), and Metso's Executive Vice President Sakari Tamminen.
Careside Announces Effectiveness of Registration Statement
CULVER CITY, Calif., Dec. 14, 2001 (PRIMEZONE) -- Careside, Inc. (AMEX:CSA), a provider of point-of-care blood analysis instrumentation and records management, announced today that its registration statement on Form S-3 that registers the shares of Common Stock issued in connection with the Company's Series C Preferred Stock financing, which was completed earlier in 2001, was declared effective on December 7, 2001 by the Securities and Exchange Commission. The total number of shares of Common Stock included in the Registration Statement was 12,894,155.
Culligan and Maxwell Technologies' PurePulse Subsidiary Agree to Co-Develop Pulsed Light Water Purification Systems
SAN DIEGO, Dec. 13, 2001 (PRIMEZONE) -- Culligan International Company and PurePulse Technologies, a subsidiary of Maxwell Technologies, Inc. (Nasdaq:MXWL), announced today that Culligan and PurePulse have entered into an agreement to collaboratively develop water purification systems that employ PurePulse's proprietary PureBright(r) pulsed light technology to eliminate microbial contamination. PurePulse initially will receive license fees based in part on certain development milestones, and ultimately would receive royalties based on product sales.
Flamemaster Reports 4th Quarter and Fiscal 2001 Year End Results
SUN VALLEY, Calif., Dec. 13, 2001 (PRIMEZONE) -- Flamemaster Corporation (Nasdaq:FAME), reported net income of $647,024 on revenues of $4,520,019 for the year ended September 30, 2001. In the prior year earnings were $1,190,722 on revenues of $5,166,286. Per share results were $.41 basic and fully diluted in 2001 vs. $.74 basic and $.71 fully diluted in 2000. The decrease in net income in fiscal 2001 was a result of sharply lower investment income.
Telenor Mobil Fined by Norwegian Authorities
OSLO, Norway, Dec. 13, 2001 (PRIMEZONE) -- Telenor Mobil has been fined NOK 2 million by Okokrim, the Norwegian authority for economic and environmental crime investigation and prosecution. In addition to the fine, a sum of NOK 8 million will be seized as a result of an alleged violation of telecom legislation. The fine is based on extended market support from Telenor Mobil to Telenor Business Solutions (Nasdaq:TELN) during the late 1990s. This support was neither made public nor offered to other companies. Deficiencies in the international pricing system made it less expensive for Telenor Business Solutions' competitors to route calls via foreign countries rather than directly between customers in Norway. Telenor considered it inexpedient for Telenor Business Solutions to direct its calls through foreign countries. Telenor Business Solutions was therefore given compensation for not exploiting the deficiencies in the international pricing system. Telenor does not concur that legislation has been violated, and will consider closely whether to accept the fine.